European Golden Visa Programs 2026

A comprehensive analysis of EU residency-by-investment programs: Portugal, Greece, Italy, and Malta. Which program suits your profile and investment goals?

€250K

Lowest Entry

7 yrs

Fastest Citizenship

3-6 mo

Fastest Processing

Schengen Countries

Introduction: The Changing Landscape

The years 2025-2026 marked a turning point for European investment migration. Spain closed its Golden Visa program in April 2025, citing housing affordability concerns. The European Court of Justice ruled Malta's citizenship-by-investment program unconstitutional in May 2025. Portugal extended its citizenship requirement from 5 to 10 years and removed real estate as an investment option.

Despite these changes, Europe remains open to global investors. The shift is toward "real economy" investments—funds, startups, and business creation—rather than passive real estate purchases. Understanding these changes is crucial for making an informed decision about your EU residency strategy.

This guide compares the four main European Golden Visa programs still active in 2026: Portugal, Greece, Italy, and Malta. We analyze investment requirements, processing times, citizenship pathways, and which program best suits different investor profiles.

Find Your Program

🇵🇹 Portugal

Citizenship without relocation

Min. Investment: €250K

Processing: 8-18 months

Citizenship: 5 years

Real Estate Option

🇬🇷 Greece

Real estate from €250K

Min. Investment: €250K

Processing: 2-3 months

Citizenship: 7 years*

Real Estate Option

🇮🇹 Italy

Fastest processing

Min. Investment: €250K

Processing: 3-6 months

Citizenship: 10 years*

Real Estate Option

🇲🇹 Malta

English-speaking EU

Min. Investment: €150K

Processing: 4-6 months

Citizenship: 10 years*

Real Estate Option

🇭🇺 Hungary

10-year permit, lowest EU taxes

Min. Investment: €250K

Processing: 4-6 months

Citizenship: 8 years*

Real Estate Option

* Actual residence in the country required for citizenship.

Quick Comparison: All Programs at a Glance

Criteria	Portugal 🇵🇹	Greece 🇬🇷	Italy 🇮🇹	Malta 🇲🇹	Hungary 🇭🇺
Minimum Investment	€500,000	€250,000**	€250,000	~€100,000***	€250,000****
Real Estate Option
Fund/Business Option
Processing Time	8-18 months	<30 days - 6 mo	3-6 months	4-6 months	4-6 months
Time to Citizenship	5 years*	7 years*	10 years	Separate process	8 years*****
Minimum Stay (for permit)	~7 days/year	Not required	Not required	Not required	Not required
Family Included
Schengen Access

* Portugal citizenship: Currently 5 years, but parliament is considering extending to 10 years. Greece citizenship: Requires 7 years of actual physical residence (183+ days/year), plus language/history exams. The Golden Visa itself has no stay requirement.

** Greece investment: €250,000 for commercial-to-residential conversions or startups; €400,000-800,000 for standard real estate.

*** Malta: ~€100,000 in fees plus mandatory property purchase (€375,000+) or rental (€14,000+/year). Citizenship via separate naturalization process (5-10 years).

**** Hungary: €250,000 real estate fund investment (5-year hold). Real estate option removed January 2025. Alternative: €1M university donation.

***** Hungary citizenship: Requires 8 years of actual residence (3 years for PR + 5 years for citizenship). The Golden Visa itself has no stay requirement.

Portugal Golden Visa 🇵🇹

ACTIVENO REAL ESTATE

Portugal remains the most popular Golden Visa program globally, accounting for 25% of industry sales despite significant changes. The program has generated over €7 billion since 2012.

Investment Options

€500,000

Investment Funds

€250,000

Cultural Support

€500,000

Scientific Research

€500,000

Business Creation

Advantages & Disadvantages

Minimal presence requirement (~7 days/year)

No tax residency obligation

Well-established program with clear regulations

No real estate investment option

Higher minimum investment (€500,000 for most)

Potential citizenship timeline extension

Best for: Investors who prioritize minimal presence requirements and don't need quick citizenship. Ideal for those seeking a "Plan B" residence without relocating.

Greece Golden Visa 🇬🇷

ACTIVEREAL ESTATE + STARTUP

Greece has emerged as the leading alternative to Portugal, ranking #1 in International Living's 2026 Global Retirement Index. The program now offers both real estate and startup investment pathways.

Investment Options: Tiered Real Estate

€800,000

Prime Locations (Athens, Mykonos, etc.)

€400,000

Other Areas

€250,000

Best Value: Commercial-to-residential conversions

€250,000

New in 2026: Startup Investment

Advantages & Disadvantages

Fastest path to citizenship (7 years of residence)

Real estate investment still available

Lowest entry point (€250,000)

High prices in prime locations (€800,000)

Language requirement for citizenship

Complex tiered pricing system

Best for: Real estate investors seeking tangible assets, those prioritizing fastest citizenship path, and entrepreneurs interested in the new startup option.

Italy Golden Visa (Investor Visa) 🇮🇹

ACTIVEFASTEST PROCESSING

Italy's program has seen 63% growth by end of 2025. It offers the fastest processing time in Europe (3-6 months) and is particularly popular with UK expats following Brexit.

Investment Options

€250,000

Innovative Startup

€500,000

Italian Company

€2,000,000

Government Bonds

€1,000,000

Philanthropic Donation

Advantages & Disadvantages

Fastest processing in Europe (3-6 months)

No minimum stay for permit renewal

Low entry point (€250,000 startup)

Long citizenship timeline (10 years residence)

B1 Italian language required for citizenship

No real estate investment option

Best for: Investors prioritizing fast processing and regulatory stability. Ideal for HNWIs who plan to relocate to Italy or don't prioritize citizenship.

Malta MPRP (Permanent Residence Programme) 🇲🇹

ACTIVEENGLISH-SPEAKING

Malta's MPRP was reformed in 2025, introducing a temporary residence card at application start. It remains popular for English-speaking families seeking EU residence.

Investment Structure

Component	Amount
Administrative Fee	€60,000
Government Contribution	€37,000
Property Purchase OR Rental	€375k+ / €14k+/yr
NGO Donation	€2,000
Total Minimum (with rental)	~€170,000

Advantages & Disadvantages

English is an official language

Schengen residence from day one

No minimum stay to maintain residence

No direct path to citizenship

Complex fee structure

Property purchase/rental is mandatory

Best for: English-speaking families who want fast EU residence and are not focused on citizenship.

Hungary Guest Investor Program 🇭🇺

ACTIVE10-YEAR PERMIT

Hungary re-launched its Golden Visa in January 2025, now called the "Guest Investor Program." It offers a 10-year residence permit, the longest initial validity in Europe.

Investment Options

€250,000

Real Estate Fund

€1,000,000

University Donation

Advantages & Disadvantages

10-year residence permit (longest in EU)

No minimum stay requirement

Lowest corporate tax in the EU (9%)

Real estate option removed (Jan 2025)

Citizenship requires 8 years of actual residence

Program is new, some regulations still developing

Best for: Investors seeking a long-term, low-maintenance residence permit in a low-tax country.

Closed Programs: A Word of Caution

Spain Golden Visa 🇪🇸

CLOSED APRIL 2025

Spain ended its popular real estate Golden Visa, citing pressure on the housing market. The program had attracted over €5 billion, primarily in Barcelona and Madrid.

Ireland IIP 🇮🇪

CLOSED FEB 2023

Ireland closed its Immigrant Investor Programme (IIP) due to a surge in applications and concerns about its economic impact.

Which Program is Best for You?

For Real Estate Investment

If you want to buy property, your best options are Greece (from €250K) and Malta (purchase or rental required).

For Fastest Citizenship

If an EU passport is your main goal, focus on Greece (7 years residence) and Portugal (5 years, but may change).

For Fastest Processing

If you need residence quickly, look at Italy (3-6 months), Hungary (4-6 months), and Malta (4-6 months).

For No Relocation

For a "Plan B" without moving, consider Hungary, Greece, Italy, or Malta. Portugal requires a minimal stay.

For Low Corporate Tax

Business owners should look at Hungary (9% - lowest in EU) and Malta (effective ~5-35%).

Key Trends for 2026

Shift Away from Real Estate

EU pressure continues against property-based programs. The trend is toward "real economy" investments—funds, startups, and business creation.

Longer Citizenship Timelines

Portugal extended its timeline, and Italy requires 10 years. Greece at 7 years is now the fastest path. Expect other countries to follow this trend.

Americans: Fastest-Growing Applicant Group

Political uncertainty and the desire for a "Plan B" are driving record American interest in EU residency.

Increased Due Diligence

All programs are implementing stricter background checks. Expect longer processing times but more secure programs.

Greece Emerging as Leader

With Portugal's changes and Spain's closure, Greece is positioned as the new leader. As one expert noted: "Greece is more than the new Portugal... It may be even better."

Ready to Find Your European Golden Visa?

Choosing the right program requires careful analysis of your personal situation, investment goals, and timeline. Noble Assets has extensive experience with all European investment migration programs and can help you make an informed decision.